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2012.12.03 16:24
Indicators

BarsMaxMinSystem - indicator for MetaTrader 5

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votes: 15

The indicator is created by the book of Larry Williams "Long-term secrets to short-term trading". But instead of identifying a trend by reversal points, there is added the trend Moving Average located on the zero line to define the direction of deals. For clarity the indicator is replaced to a separate window and the price is normalized by the trend MA. The meaning is in the following:

  • МА trend is calculated and also МА drawn on high prices and МА drawn on low prices (the last two with a period of 3)
  • trade only in the trend direction
  • buy on МА drawn on low prices, close on МА drawn on high prices, sell on МА drawn on high prices, close on МА drawn on low prices.

Indicator for Bars Maximums / Minimums Sytem by Larry Williams

Recommendations:

  • Buy on the Moving Average price (Low), but only if the trend MA (on zero line) is blue (Up Trend).
  • Close a buy on the Moving Average price (High).
  • Sell on the Moving Average price (High), but only if the trend MA (on zero line) is orange (Down Trend).
  • Close a sell on the Moving Average price (Low).


Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/1111

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